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Intelligent Automation Roadmap for Banks

Intelligent Automation : Banking and Finance industry is going through the biggest disruption of all times. With ever changing business models, rise of fintech companies, hyper connected customers, emergence of crypto currency, blockchain and explosion of diverse channels, casting a wide variety of influences on the buyer’s journey. Banks need to optimise and leverage each and every Moment of Truth via Intelligent automation.

So what are the nuances of Intelligent Automation for banks, let’s look at the four key constituents :

Customer Experience – 1:1 personalisation

Operational Excellence – Ease of use

Seamless Collaboration across ecosystem – uniform experience

Employee skilling and engagement – empowered employees

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Intelligent Automation is not one time activity, it evolves through innovation and disruption
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Banks need to understand their AI maturity stage in each of these disciplines and develop a framework (people, process & technology) for managing the transition to a fully digital and intelligent enterprise. Contrary to popular belief, Intelligent Automations is not just about technology, it involves a deep understanding of the customer behaviour and preferences and a wide knowledge of evolving business trends. For example, the unprecedented growth of millennial customers with completely different needs and “digital” behaviour patterns has a substantial impact on the business models of banks.

“Declining mobile app downloads, widespread usage of text based conversations, rise of IoT Devices, micro services, open banking, multilingual NLP and real life applications of machine learning have created shoals of opportunities for disruption and innovation.”

Shoal Automation maturity model can be used as a starting point to identify areas for investment that offer the greatest ROI and create comprehensive roadmap to guide automation initiatives. The comprehensive roadmap for banks analyses end-to-end automation readiness from customer experience, digital channels, technology & overall operations excellence. The output is in the form of a report with ASIS and TOBE state comparison.